Ocean Sun AS has initiated a number of organisational measures aimed at aligning
the Company's resource base and cost structure with its current level of
activity and strategic priorities.
As part of these measures, Ocean Sun and Chief Financial Officer Karl Lawenius
have agreed that his employment with the Company will conclude on 31 January
2027. The Company would like to thank Karl for his valuable contribution to
Ocean Sun and wishes him all the best for the future. CEO Kristian Tørvold will
cover the CFO role in addition to his existing position as Chief Executive
Officer.
The organisational measures are intended to maintain financial flexibility while
preserving the Company's ability to execute on its core strategic priorities,
ongoing projects and commercial opportunities.
Ocean Sun will continue to evaluate its organisational structure and resource
requirements as the Company progresses into its next phase of development.
At the same time, Ocean Sun is moving from quarterly to half-yearly financial
reporting. The annual report for 2026 will be published as planned on 17 March
2027, and the half-yearly report for the first half of 2027 will be published on
26 August 2027. The Company will continue to disclose material events on an
ongoing basis in accordance with applicable regulations.
For more information, please contact:
Kristian Tørvold, CEO of Ocean Sun, +47 97088847
About Ocean Sun
By combining Norwegian maritime expertise and knowledge within photovoltaics,
Ocean Sun has developed an innovation that offers a bold solution to our global
energy needs. The patented technology is based on solar modules mounted on
hydro-elastic membranes and offers cost and performance benefits not seen in any
other floating PV system today. With offices in Oslo, Singapore and Shanghai,
Ocean Sun is embarking on its vision to be the world's leading technology
provider of floating solar.
This information is subject to the disclosure requirements of section 5-12 of
the Norwegian Securities Trading Act
ion 5-12 of\
the Norwegian Securities Trading Act \